M&T Bank Co. (MTB) Expected to Post Earnings of $2.40 Per Share

Equities analysts expect that M&T Bank Co. (NYSE:MTB) will post earnings of $2.40 per share for the current quarter, Zacks reports. Three analysts have made estimates for M&T Bank’s earnings, with estimates ranging from $2.33 to $2.47. M&T Bank posted earnings per share of $2.01 in the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The firm is expected to announce its next earnings report before the market opens on Thursday, January 18th.

According to Zacks, analysts expect that M&T Bank will report full year earnings of $9.10 per share for the current fiscal year, with EPS estimates ranging from $9.05 to $9.15. For the next fiscal year, analysts forecast that the firm will post earnings of $10.16 per share, with EPS estimates ranging from $9.66 to $11.99. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow M&T Bank.

M&T Bank (NYSE:MTB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $2.21 EPS for the quarter, missing the Zacks’ consensus estimate of $2.40 by ($0.19). The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.43 billion. M&T Bank had a net margin of 23.97% and a return on equity of 9.52%. During the same period in the prior year, the company posted $2.10 EPS.

Several research firms recently issued reports on MTB. Barclays increased their price target on shares of M&T Bank from $175.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday. ValuEngine raised shares of M&T Bank from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Sanford C. Bernstein reissued a “market perform” rating and issued a $165.00 price target (down previously from $171.00) on shares of M&T Bank in a research report on Saturday, September 16th. Nomura increased their price target on shares of M&T Bank from $144.00 to $145.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Finally, Wells Fargo & Co set a $180.00 price objective on shares of M&T Bank and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $168.18.

M&T Bank (NYSE MTB) opened at $173.44 on Friday. The company has a market cap of $26,500.00, a PE ratio of 19.98, a PEG ratio of 1.92 and a beta of 0.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.57. M&T Bank has a 52-week low of $141.12 and a 52-week high of $176.71.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 1st were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $3.00 annualized dividend and a dividend yield of 1.73%. M&T Bank’s dividend payout ratio (DPR) is currently 34.56%.

In related news, Director Gary N. Geisel sold 1,046 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $170.49, for a total value of $178,332.54. Following the transaction, the director now directly owns 17,586 shares in the company, valued at $2,998,237.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert E. Sadler, Jr. sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $171.19, for a total transaction of $171,190.00. Following the completion of the transaction, the director now owns 52,049 shares in the company, valued at $8,910,268.31. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 216,000 shares of company stock worth $17,250 and sold 32,128 shares worth $5,474,208. Corporate insiders own 3.18% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sun Life Financial INC raised its holdings in M&T Bank by 8,576.9% in the second quarter. Sun Life Financial INC now owns 1,128 shares of the financial services provider’s stock worth $183,000 after purchasing an additional 1,115 shares during the period. Wedbush Securities Inc. acquired a new stake in M&T Bank in the third quarter worth $206,000. Columbia Asset Management acquired a new stake in M&T Bank in the third quarter worth $212,000. Virtu Financial LLC acquired a new stake in M&T Bank in the third quarter worth $213,000. Finally, Almanack Investment Partners LLC. acquired a new stake in M&T Bank in the second quarter worth $218,000. Institutional investors own 77.71% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “M&T Bank Co. (MTB) Expected to Post Earnings of $2.40 Per Share” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/01/05/mt-bank-co-mtb-expected-to-post-earnings-of-2-40-per-share.html.

M&T Bank Company Profile

M&T Bank Corporation (M&T) is a bank holding company. As of December 31, 2016, M&T had two bank subsidiaries: Manufacturers and Traders Trust Company (M&T Bank) and Wilmington Trust, National Association (Wilmington Trust, N.A.). The Company, along with its subsidiaries, offers a range of retail and commercial banking, trust and wealth management, and investment services.

Get a free copy of the Zacks research report on M&T Bank (MTB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for M&T Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for M&T Bank and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply